Difference between revisions of "Fortis Clearing Americas"

From MarketsWiki
Jump to navigation Jump to search
Line 11: Line 11:
}}
}}


Fortis Clearing Americas is a unit of Fortis, the Belgo-Dutch financial services group. The business was formed with the 2006 merger of Fortis Clearing Chicago and Chicago-based O'Connor & Company<ref>{{cite web|url=http://www.eoconnor.com/pdf/PRSep6.pdf|name=Press Release|org=Fortis|date=January 8, 2008}}</ref>.
Fortis Clearing Americas is a unit of France's [[BNP Paribas]].  [[BNP Paribas]] acquired the investment operations of the Belgo-Dutch financial services group Fortis when Fortis was forced to sell 75% of its Begium and Luxembourg holdings due to a solvency crisis.<ref>{{cite web|url=http://biz.yahoo.com/ap/081006/eu_belgium_fortis.html?.v=5|name=BNP Paribas bulks up with Fortis acquisition|org=Associate Press|date=October 9, 2008}}</ref>  The business was originally formed with the 2006 merger of Fortis Clearing Chicago and Chicago-based O'Connor & Company<ref>{{cite web|url=http://www.eoconnor.com/pdf/PRSep6.pdf|name=Press Release|org=Fortis|date=January 8, 2008}}</ref>.


== History ==
== History ==
Line 17: Line 17:
Fortis launched its US operation in 2001, tripling the scale of its clearing operation with the acquisition of O'Connor & Company in November 2005. The deal closed in September 2006.
Fortis launched its US operation in 2001, tripling the scale of its clearing operation with the acquisition of O'Connor & Company in November 2005. The deal closed in September 2006.


O'Connor & Company was established in 1959 by Edmund and William O'Connor, who helped launch the [[Chicago Board Options Exchange]]. In 1972, the O'Connor brothers founded First Options of Chicago which grew to become the largest clearing firm for option market makers in the world. First Options was later acquired by Spear Leeds & Kellogg in 1977<ref>{{cite web|url=http://www.eoconnor.com/leader.htm|org=O'Connor & Co|name=Biographies|date=January 8, 2008}}</ref>.
[[O'Connor & Company]] was established in 1959 by Edmund and [[William O'Connor]], who helped launch the [[Chicago Board Options Exchange]]. In 1972, the O'Connor brothers founded [[First Options of Chicago]] which grew to become the largest clearing firm for option market makers in the world. First Options was later acquired by [[Spear Leeds & Kellogg]] in 1977<ref>{{cite web|url=http://www.eoconnor.com/leader.htm|org=O'Connor & Co|name=Biographies|date=January 8, 2008}}</ref>.


== References ==
== References ==
<references />
<references />
[[Category:Fortis]
[[Category:BNP Paribas]]
[[Category:Futures Commission Merchants]]

Revision as of 20:28, 9 October 2008

Fortis Clearing Americas
Fortis logo.gif
Founded 2001
Headquarters Chicago
Key People Mark E. Cermak, director of execution services; Gary M. Katler, vice-president
Products Clearing services for derivatives, bonds, equities and commodities
Website http://www.eoconnor.com

Fortis Clearing Americas is a unit of France's BNP Paribas. BNP Paribas acquired the investment operations of the Belgo-Dutch financial services group Fortis when Fortis was forced to sell 75% of its Begium and Luxembourg holdings due to a solvency crisis.[1] The business was originally formed with the 2006 merger of Fortis Clearing Chicago and Chicago-based O'Connor & Company[2].

History[edit]

Fortis launched its US operation in 2001, tripling the scale of its clearing operation with the acquisition of O'Connor & Company in November 2005. The deal closed in September 2006.

O'Connor & Company was established in 1959 by Edmund and William O'Connor, who helped launch the Chicago Board Options Exchange. In 1972, the O'Connor brothers founded First Options of Chicago which grew to become the largest clearing firm for option market makers in the world. First Options was later acquired by Spear Leeds & Kellogg in 1977[3].

References[edit]

[[Category:Fortis]